Fintech Scotland, new norms, new fintechs
2020 ”“ Establishing New Norms
We’re starting to wind down and think about finishing up for a break over the festive period at FinTech Scotland and like so many of you and other organisations out there we’ve been reflecting on what a year!
2020 has felt like a year where we’ve lost what was normal. Like so many, we’ve been working from home since March ”“ our last day in the office was the 12th of March, forever etched in my memory! Since then, we’ve been getting used to a new norm’, new ways of working and phrases like you’re on mute’ have made it into our everyday working vocabulary.
Life moved online with technology and digital connectivity vital for new norms that were being established at work and school, for learning, shopping, social interaction and connection with family and friends!
We’ve been able to count our blessings in so many ways and continue to be privileged, inspired and energised by the FinTech Scotland Cluster.
Fintech driving New Norms’
The purpose and commitment to enable greater financial inclusion is a strength right across the fintech community in Scotland. The financial impact of COVID-19 on businesses and people has presented even more need to drive this agenda and Scotland’s fintech SME’s are providing a range of different products and services to help, enable and empower people.
Amiqus has progressed a collaborative initiative to ensure those facing homelessness and a loss of address can maintain access to vital services. @Proxy address, a new normal perhaps, is a solution that aims to overcome issues of financial exclusion because proof of identify to access products is closely tied to a permanent address. It’s an innovative approach that’s enabling new insights on old issues and focused on purposeful outcomes.
Empowering people by making personal finance more insightful and transparent, while using technology to see all your accounts in one place, is fast becoming a new norm and driven by fintech’s such as Money Dashboard. The team there were recently successful in the NESTA Rapid Recovery Challenge to help people financially hit by COVID-19. The award recognised both Money Dashboard’s innovation to help people manage money and its ability to quickly scale to support more people and a growing need.
New ways are also driving the team at Nude, who are working to enable aspiring first time buyers to build a deposit for their first home. The innovation aims to help people build that deposit quicker and is working to support new savings norms to empower people through data, behavioural insights and investments.
The team at Sonik Pocket have been innovating to help children with money. They’ve been focused on the potential new norm that generation Alpha will have less experience with physical cash and are building a product to help teach them about the value of money in a digital way. The inspiring team come from a teaching background and want to see children included and engaged with money and finances.
Float, working with SME’s, is integrating a range of activities to give businesses new tools to manage cashflow, accounts, and other business finance needs. Driving a new norm that helps business owners forecast accurate cashflow using real time information to get a visual view of ins and outs, pinch points and supporting confident business decisions.
There are many more fintech’s working and collaborating with industry partners, regulators, consumer organisations and universities to build the next phase of New Norms where technology in financial services supports inclusive outcomes for businesses and people.
New Fintech SME’s
The FinTech Scotland community of fintech SME’s has grown throughout 2020 and it’s a pleasure to welcome a host of new enterprises who are all aspiring to build and support other new norms and ways of working. Focused on cyber security Lupovis helps identify and divert cyber hackers away from crucial operating systems to keep businesses digitally safe, an increasingly vital need as we embrace new ways of digital working. Love Your Employees is focused on employee health and financial wellbeing, enabling employers to support colleagues through changing financial, emotional and other health needs.
In addition, an established norm continues to see international fintech’s join the FinTech Scotland community. Montoux, Access FinTech, UNest, all international fintech’s, have started to establish and build business in Scotland. All attracted to Scotland because of the strength of talent and data driven innovation expertise available here, and all working in different markets. Montoux, a New Zealand business is focused on the life and health insurance industry. AccessFintech from New York is using its innovation to help financial operating and risk models evolve, and UNest, a Californian business is focused on enabling people to save for university and education costs.
New Connections
The positive outcome of the new working from home norm has been the ability to broaden our reach and speak to more innovative fintech communities across the world. This opportunity to welcome global innovations and to learn from shared experiences continues to energise us. Mickael, our French Scot has been building new alliances with fintech hubs around the world. The FinTech Scotland festival reach worldwide audiences across the 70 virtual events held in September and we’re hoping to build on this experience for next year.
FinTech Scotland visited seven different countries virtually in 2020 and virtual events have brought about a new meaning to airmiles as we visited’ India, Australia, Hong Kong, Singapore, Europe and the US without leaving home. The ability to connect and learn from these experiences is wonderful as is the opportunity to profile Scotland’s fintech community at these international events.
New Year Ahead
Team FinTech Scotland are all hopeful for a healthier 2021 for all. We’re also looking forward to welcoming more fintech entrepreneurs into the FinTech Scotland community, through continued homegrown talent and through attracting international enterprises. We know Scotland will continue to inspire us through innovation, collaboration and inclusion, that there will be opportunities to continue to establish many more positive new norms and we’re ready to welcome all of that too.
Virgin Money selected Waracle as technology partner for business banking market.
Virgin Money have selected Waracle as their technology partner for Virgin’s first foray into the business banking market.
The partnership will see Virgin Money leverage Waracle’s deep expertise in mobile application design and development, with a particular emphasis on feature rich apps focusing on financial wellbeing.
Waracle are one of three technology partners selected for the project, with Virgin Money citing the app development agency’s financial services and software development expertise as key criteria in the decision.
Gavin Opperman, the Group Business Director at Virgin Money, said:
“The skills and capabilities which Waracle provide are very much in demand and are vital in helping us develop our innovative business banking proposition, both in terms of what we deliver and how we deliver it. We’re confident the cutting edge approach to technology the team will deploy will deliver great experiences for our customers.
“Waracle is a strong Scottish-based company and we’ve partnered with them previously on the creation of our augmented reality Currency Converter, which was a great success. The team’s collaborative approach and work ethic fits perfectly with our combined team, including an ecosystem of capability partners. I look forward to seeing the results of our latest collaboration.”
Waracle’s co-founder and Chief Technology Officer Mike Wharton cited the difficult economic environment in 2020 as a perfect time for financial services organisations to step forward to support businesses, adding
“the innovative banking proposition Virgin Money is bringing to the market will help the business community thrive”.
The launch of Virgin Money Business will be vital to the bank as it develops it’s Working Capital Health proposition which aims to transform the bank’s existing business current account offering into a financial wellness tracker for SMEs.
Waracle are part of the Fintech Scotland community, who support the growth of the Scottish fintech cluster.
Key insurable risks facing FinTech businesses
With the FinTech industry continuing to boom in the UK the insurance market has responded to the demand for focussed operational risk insurance solutions.
FinTech businesses have a unique combination of exposures that are not catered for by traditional insurance solutions, however the insurance market is innovating and creating bespoke solutions. The following are examples of key
operational risks facing businesses today:
Professional liability
Negligent advice, errors & omissions in the client services arena are common risks for any company providing financial services. This risk is potentially heightened for FinTechs who offer new products through new distribution models. FinTechs may also potentially assume additional liability where there is a reliance on third-party contractors.
Regulatory risk
New technology, new products and new distribution brings a wealth of opportunities, but also new regulatory exposures. FinTech companies will need to ensure they keep on top of the implementation of suitable and satisfactory risk management systems. As this market evolves, so will the regulatory environment.
Keeping pace with regulatory change and the need to consider differing regulations in multiple territories will be challenging.
Theft of funds
FinTechs may deal with a high frequency of funds movement. High volumes of payments, transactions and customer accounts can leave you vulnerable to theft. These thefts could be by an employee or external party.
Cyber events
Given the nature of your operations, FinTech companies are prime targets for cyber criminals. Network security, data breaches, ransomware or even a denial-of service attack – as well as damage and rectification costs following these incidents – should be a major concern for FinTech companies.
Technology failures
Innovative technology is essential for FinTech companies – it is how you have disrupted traditional financial services – but this heavy reliance on technology infrastructure means firms can be vulnerable. Technology failure can mean customers are unable to access services resulting in lost income or lost customers.
Directors & Officers liability
The personal assets of directors and non-executive directors can be at risk where they are held liable for legal costs and claim awards from third party claimants arising out of alleged or actual wrongful acts committed in their capacity as managers of the company. Whilst the business will normally indemnify the individual directors and officers, in some instances they may not be willing or able to indemnify (e.g. due to insolvency) and therefore having access to an insurance solution should be at the forefront your of considerations.
The insurance industry will continue to innovate and try to keep pace with the new risks that will emerge as the sector continues to grow in the UK and around the world.
For more information please contact garry.hill@pib-insurance.com or visit www.pib-insurance.com
Photo by Gladson Xavier from Pexels
Launch of the 2021 AG Elevate programme
For the fourth consecutive year, high-growth tech companies are invited to apply for the Addleshaw Goddard AG Elevate programme ”“ a unique fast-track legal mentoring scheme.
The programme has been created and is delivered by leading lawyers at Addleshaw Goddard. Chosen companies will benefit from 10 months of free dedicated support from legal professionals. They will also enjoy access to industry networks.
2121 will be slightly different as one third of spaces on the programme have been reserved for businesses with a sustainability focus.
David Anderson, Corporate Partner at Addleshaw Goddard, said:
“It’s now more important than ever to recognise the scale of opportunities tech companies in Scotland bring to the table. The coronavirus pandemic has accelerated the digital innovation within the majority of businesses, making the AG Elevate programme an exciting option for a mass of high growth companies. We expect to see an increase in entries this year as we open the scheme to tech businesses across the board in addition to Fintech businesses specifically, so we’re encouraging relevant firms to get their applications in as soon as possible.
“With our extensive experience in the sector, we are one of the only law firms to offer a dedicated programme of this nature and we’re really looking forward to getting the opportunity to work with more outstanding home-grown talent over the next year.”
Open Banking Reporting (OBR) ”“ a Scottish fintech which provides predictive data analytics to improve decision making benefited from the 2019 scheme.
Applications to the scheme will close in late January 2021 with successful applicants notified at a launch event in late February. For more information or to apply, visit: www.addleshawgoddard.com/elevate
New non-exec Chairman for Exizent as they take next step in evolution to make bereavement experience better for everyone
Start-up tech firm Exizent, whose innovative platform is transforming bereavement by connecting legal services firms with banks and the wider financial services community,, has further strengthened its team with the appointment of Mitchel Lenson as Non-Executive Chairman.
Mitchel was a long-serving Non-Executive Director at Nationwide Building Society before stepping down in 2019 and brings extensive financial services and technology innovation experience to the Board, gained through both his executive and non-executive careers.
His career spans over 30 years, with roles at Deutsche Bank, UBS Warburg, Credit Suisse First Boston and J.P. Morgan. He currently sits on the board of Currency Cloud, which allows the next generation of fintechs to quickly and easily build cross-border payments and FX functionality into their platforms, as well BioCatch, the global leader in AI-driven behavioural biometrics.
Mitchel, who has an MBA in international finance from City University Business School and a BA in Business Finance from City of London Polytechnic, says he is excited to be joining Exizent, whom, he describes as “a fine example of the role technology can play in improving an area that has been long overlooked.”
He said: “Exizent’s vision to improve the bereavement experience and fundamentally reduce the administrative burden on families is a proposition that really resonates with me, and I’m looking forward to supporting them on their journey.”
Nick Cousins, who is founder and CEO, says he is delighted Mitchel has decided to join Exizent, saying his extensive experience will be a huge asset as they move forward with their vision of improving the entire bereavement process:
“Mitchel brings a proven track record in financial services and technical innovation and his appointment is a key step in our evolution as we seek to make the bereavement experience better for everyone involved.”
Exizent is the first ever platform that connects data, services and the network of people involved when someone passes away. The company’s mission is to reduce uncertainty, increase speed and make the process far simpler.
The company was founded by former financial services veteran Nick Cousins and transformation and technology leader Aleks Tomczyk (pictured left). The business successfully raised £3.6 million in funding from several investors including FNZ, the global platform-as-a-service firm which reached unicorn status in 2018.
Legado finalist in Lloyds Banking Group innovation programme
Life organisation and legacy planning platform, Legado, has been included as a finalist in the Lloyds Banking Group’s innovation programme. LAUNCH Innovation Lab, powered by Lloyds Banking Group, seeks to identify new and leading-edge businesses that have created solutions which can support Lloyds Banking Group workplace pension members in preparing them for the future.
Legado was part of an initial cohort of 12 innovative businesses accepted onto the programme in October and has now gained a place as one of the final six. Legado will now work collaboratively with the Lloyds innovation team and the Scottish Widows workplace pension team to adapt its life-planning platform for use by members of the company’s corporate pension schemes, helping them organise their life documents and key information.
Legado will create a bespoke proof of concept which will include technical integration and some early testing with workplace pension members. The fintech scale-up will have its concept launched as part of Lloyds service offering, helping drive efficiency to workplace pension members and preparing them for life’s events.
Josif Grace, Founder and CEO of Legado said:
“During the initial phase of LAUNCH, we worked closely with Lloyds to understand the challenges faced in the workplace, which has given us insight to explore a proof of concept to be rolled out more widely.
“The bespoke Legado platform will enable Lloyds to enhance workplace engagement through the provision of a relevant, employee-focused, digital tool which is personalised to individual circumstances, helping ensure life-readiness at key life moments. Lloyds will also benefit from increased efficiency with readily available integrations and APIs enabling a seamless way to exchange HR related documentation.”
By providing relevant and useful digital tools and services, LAUNCH brings together the brightest new companies under its umbrella to ensure they take the right steps to meet customer’s goals. This includes providing corporate customers with the tools and support needed to engage with their workplace pension members.
David McLeay, Innovation Manager at Lloyds Banking Group commented:
“Legado’s platform is a truly innovative concept and is something we are eager to explore as a benefit for our workplace pension members. Technology and planning for the future go hand in hand, however when it comes to life organisation and legacy planning many of us still rely on physical documents. The digital transformation of this sector will bring it into the 21st Century. We want to be able to offer our workplace pension members access to the best services that will benefit them and their loved ones ”“ Legado has the opportunity to do just that.”
Lloyds Banking Group’s interest in Legado follows strategic investment from Prudential and FNZ, joining the company to disrupt and transform the way in which personal organisation and life planning takes place in the UK.
Fighting inequality and increasing diversity in tech
CodeYourFuture (CYF) is a UK based non-profit organisation that trains refugees, asylum seekers and other disadvantaged people to become web developers and find work in the tech industry. At CYF Scotland, we are on the lookout for new partners and volunteers, as we approach the start of our fifth class in early 2021.
Our mission
Targeting motivated applicants who have limited access to education and are currently underrepresented in the tech sector, CodeYourFuture is not another coding school, it is a community with a mission to fight inequality. In fact, CYF strives to remove as many obstacles to learning as possible for its students: the course is free and students’ costs, such as travel, childcare and internet are covered. Moreover, our 8-month-long part-time course is designed to allow students to fit their studying around other commitments.
Our students
CYF students come from a variety of backgrounds, including:
- Refugees or Asylum seekers
- Single Parents with low income
- Those diagnosed with mental health, learning, or physical disabilities,
- Those who live in a household with a total income below the UK poverty line,
- Women, minorities, ex-offenders, or anyone else experiencing problems getting the education needed to find meaningful work- including being homeless or long-term unemployed.
Our course
At CYF, the tech curriculum starts from the basics and encompasses front-end and back-end technologies, in order to develop rounded full-stack junior web-developers. Alongside technical development, the CodeYourFuture program places an emphasis on the development of soft-skills and positive habit formation over the duration of the course. Moreover, students are matched with professional mentors who offer them career guidance and support during the course. Employment is one of CYF’s main success benchmarks. Upon graduation, we help our students with CV writing, interview skills, and match them to exciting job opportunities within our partner network and wider community.
Our impact
Despite our focus on remaining an inclusive and diverse volunteer-led community, we pride ourselves on the practical impact we have on people’s career development. So far, in Glasgow, we’ve graduated thirty-nine Full Stack Web Development Bootcamp students, 70% of whom have gone on to further related study or full-time tech employment. Our graduates have gone on to work with organisations such as BBC Scotland, STV and many other companies and startups in Scotland.
We are on course to graduate a further ten students in November, and are almost ready to interview applicants for our largest class yet of thirty students in our next Bootcamp starting in early 2021.
Join us!
To achieve our aims, we have worked with a number of corporate partners over the past few years. In Scotland, we have a special opportunity for partners to sponsor the development of students in our next Bootcamp. We ensure our partnerships are fruitful for everyone involved, with fantastic opportunities to energise your company’s working atmosphere and social impact through things like tailored volunteering opportunities, collaborative workshops and exclusive hiring avenues.
If you are interested in the chance to make an impact in your community and taking concrete action towards increasing diversity in the tech industry, we would love to speak with you.
For more information on how you or your organisation can get involved with CYF from a tech education, career mentoring, soft skills development or sponsorship perspective, contact scotland@codeyourfuture.io.
You can also find further information about CodeYourFuture on our website: https://codeyourfuture.io/.
Tech women: essential to economic growth
Scotland has a thriving technology sector but there’s still a huge amount of untapped potential that could further elevate its success and bolster our economy. Women, who remain significantly underrepresented within the sector, have a major part to play in making this happen.
The Scottish Technology Ecosystem Review by Mark Logan, published earlier this year, set out how Scotland’s technology sector can contribute to the post-pandemic recovery. The review identified three key areas which were essential in supporting and nurturing Scottish tech businesses, from the early start-up phase through to full scale maturity. These include education and talent, from school to all levels of further learning, infrastructure, and funding.
Logan’s initial point on education is where we need to start in addressing the current lack of women within the sector.
According to the UK organisation Women in Tech, females account for under 17% of technology roles at present with only one in ten women in IT leadership positions. With little progress being made on these figures over the last decade, it’s clear that we need to make a concentrated effort to encourage more girls to pursue STEM subjects which can provide a solid foundation for pursuing a career in technology. We must also support initiatives to keep women interested and active in technology as well as other STEM-related industries beyond their school years.
Here in Scotland there are a number of other bodies already seeking to do this including the Royal Society of Edinburgh (RSE), an internationally renowned science-focused organisation currently run by a female CEO which has significantly increased its number of female Fellows over recent years. The Scottish Government also set up a taskforce earlier this year to tackle gender stereotyping in schools which aims to drive bold and far-reaching’ actions including ensuring greater gender equality in key professions.
Organisations like ours are also seeking to affect positive change. Through our annual AccelerateHER Awards programme for female company founders, we have now introduced four STEM-focused categories, including FinTech, Data Science and Cyber Security, which is specifically aimed at female technology business founders.
Women leading these types of companies not only demonstrate the potential to thrive in these sectors, they also play an important role as inspirational mentors to younger girls who with a talent for technology.
Encouraging more established businesswomen to become investors is also important in presenting technology as a more attractive sector for female entrepreneurs. We’ve seen this phenomena in the US where females now account for more than 25% of its business angel investment community. This has created a ripple effect where a corresponding percentage of angel-backed companies are those led by a woman.
As the Logan Review has reported, technology in now essential to our economic future as it’s a sector that is most likely to create jobs and develop new, world class companies. Women in Tech has also estimated the UK economy would benefit from an extra £2.6 billion each year if we increased the number of women working in technology to fill the prevalent IT skills shortage.
As we have witnessed through our AccelerateHER Awards programme, female tech business founders are breaking through. Previous award winners including Rachel Jones of SnapDragon Monitoring, Elaine Galston of Tubular Sciences and Sheila Hogan of Biscuit Tin Planning are great examples of successful, Scottish-based technology business founders who are growing their companies and contributing to Scotland’s overall economic growth.
I would invite any female tech business founders, even those whose businesses are in the very early stages of growth, to put themselves forward and apply for next year’s awards ”“ the deadline for entries closes this Friday (11 December).
Meanwhile, educators, governments and business must continue to ensure they keep the focus on attracting more females into the tech sector. This will not only deliver greater equality in a field where there are still far too few women, it will also help pave the way for a strong economic recovery which will be essential as we emerge from the global pandemic.
Jackie Waring, CEO at Investing Women
More details on the 2021 AccelerateHER awards can be found here
Launch of a Collaborative Fintech Venture Studio in Scotland
Embark and FNZ together with their partner at Vivolution; Build the Foundations of a Collaborative Fintech Venture Studio in Scotland
Embark Group a technology led retirement focused wealth platform and one of the largest retirement solutions providers in the UK and Vivolution Limited, the former Fintech Scotland Network Integrator are working together to build a collaborative financial services ecosystem and hybrid Venture Studio to deliver fintech innovation and social impact in Scotland.
Embark, together with Anthemis a leading fintech venture capital firm who will lead the investment strategy and FNZ a global platform-as-a-service provider to wealth management customers; have already brought together an ecosystem of leading asset managers as institutional innovators to work with their first Fintech cohort to accelerate the potential of these businesses across global markets.
Vivolution’s first task will be to invite other Innovators, Collaborators and Academia to join this unique financial services and investment ecosystem, collaborating with their peers with an initial emphasis on making a social impact and delivering solutions for the financial wellbeing of vulnerable customers.
The Venture Studio has six key areas of interest for Entrepreneurs, FS Institution’s, Investors and Academia to jointly come together, to help solve some of the global FS challenges the world is facing: –
- Retirement planning and longevity of capital
- Open banking for good; debt management and data science
- Workplace / GIG economy and the evolution of employment and working patterns
- Financial literacy and the advice gap
- Financial wellbeing and social impact
- Customer engagement and the development of socially responsible investing.
One of the most unique elements of the Venture Studio, is the partnership with the Anthemis VC Fund who are accustomed to delivering a deep understanding of markets and models and have a passion for emerging technology and values; inspiring everything that they do.
If you are a FS Institution, Professional Services Firm, Global Technology Provider or, Academia who want to be part of this innovative Embark FNZ Venture Studio ecosystem then, please contact Vivolution, for more information.
Andrew McGee; Vivolution Limited
T: +44 (0)141 212 2533
M: +44 (0)7905 326 144
W: vivolution.co.uk/embarkgroup
NOTES ON PARTNERS: –
Embark Group is a fast growing, diversified, financial services business and one of the largest retirement solutions providers in the UK. It is a technology led retirement focused wealth platform that covers the areas of Investment Platform, SIPP, SSAS, Multi-Asset Funds, Fund Research and Employee Benefits, and provides a unique combination of deep pension expertise and leading technology integration to deliver multi-channel savings and investment services to the Robo-Advice, Banking and Wealth Management markets. Today, it operates a wide portfolio of white label services for clients such as RBS Coutts, Standard Life, Nutmeg, BestInvest, Charles Stanley, Moneyfarm and Wealthsimple. Embark has been recognised as one of the most innovative Wealth Tech companies in 2019 and 2020.
FNZ is a global platform-as-a-service provider, transforming the way financial institutions serve their wealth management customers. It partners with banks, insurers and asset managers to help consumers better achieve their financial goals. Today, FNZ is responsible for over £400 billion in assets under administration held by around 8 million customers of some of the worlds largest financial institutions, including Aviva, Barclays, BNZ, Findex, Generali, Lloyds Banking Group, National Australia Bank, Quilter, Santander, Standard Life Aberdeen, Sweedbank, UBS, UOB, Vanguard and Embark.
Anthemis has a diversified portfolio of best-in class, high-growth, digitally native financial services companies based around the world; they are thesis-driven investors and hold several vehicles in which Anthemis invest discretionary and non-discretionary capital across a wide range of companies, from early stage to growth. Anthemis uses rigorous design thinking to build new, venture-backed businesses; working in the white space where companies do not yet exist alongside entrepreneurs and academic spinouts with ambitious visions to imagine the future. Anthemis explores new ways of thinking about financial services by drawing inspiration from people, companies and academia inside-and outside-their ecosystem who challenge perceptions about FS and its future.
Vivolution are a Venture Builder”¦a commercial team accustomed to accelerating the routes-to-sales and investment strategy for emerging technology businesses; with a particular focus on FinTech, HealthTech and AI Cognitive SaaS Cloud Solutions. Supporting growth ventures that make a difference, Vivolution helps clients when they need it most; building the architecture for scale-ups to leverage the benefits as they develop and grow. Working with Scale-ups, Corporates, Investors and Academia; Vivolution are recognised as a trusted ecosystem partner who deliver outcomes. Previously appointed as the Fintech Scotland Network Integrator, working with and developing the financial services and Fintech ecosystem; Vivolution enables innovation across industry sectors, facilitating collaboration and driving the economic and commercial benefits.
Photo by Cadeau Maestro from Pexels
AutoRek recognised in RegTech100 list
Scottish fintech AutoRek has been chosen as one of the world’s most innovative RegTech companies in the the annual RegTech100 list. The list is pulled together by RegTech Analyst, a pre-eminent provider of data, research and analysis on the global RegTech market.
A panel of analysts and industry experts looked at over 1,000 companies and the finalists were selected for their innovative use of technology to solve significant industry problems or generate efficiency improvements across the compliance function.
Despite a very different 2020, AutoRek has seen a huge demand increase for regulatory reporting solutions, with many firms already implementing AutoRek.
Kemal Sangrar, Head of Product, AutoRek, said:
“AutoRek is delighted to be listed in the RegTech100 for the third consecutive year. This award is recognition of our commitment in delivering regulatory reporting solutions to the financial services industry and testimony to innovative strategy underpinning our product. We anticipate another great year ahead and are looking forward to the launch of our next big release, AutoRek 6.0.”
Mariyan Dimitrov, Director of Research, RegTech Analyst, added:
“At RegTech Analyst, we take pride in consolidating the RegTech100 list each year. With the RegTech industry still expanding and evolving, we have found it important that Financial Institutions are kept up to date with the most innovative RegTech companies out there and having gone through the process the last three years, AutoRek is certainly one of them.”
A full list of the RegTech 100 is available at www.RegTech100.com<http://www.